Brookfield Property Partners is looking to up the amount on its loan from the Bank of China for 245 Park Ave. It has an $800M loan now, and Brookfield’s looking to make it an even $1B. The deal’s due to close later this month. LTV will stay below 50%, even with the $200M boost, according to the Commercial Observer. Brookfield and the Bank of China go back a ways: In 2010, the bank did the biggest loan ever by a Chinese bank’s NYC branch to refi Brookfield’s Park Avenue Tower. [CO]
News
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories
)
)
)
)
)
)
)
)
)
)
)
)